Nominal-contracting theories of unemployment: evidence form panel data

Article Abstract:

Data from the National Longitudinal Survey of Young Men are used to study how nominal shocks affect real wages in the economy and in specific sectors. Nominal-contracting theories of unemployment hold that real wages and nominal shocks have a negative correlation. The research does not support these theories. The study shows that real wages have no correlation with either money-growth shocks or inflation and suggests that real shocks could lead to fluctuations in real wages.

Research, Unemployment, Wages, Wages and salaries

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Testing the rationality of price forecasts: reply

Article Abstract:

Errors were made in applying incorrect cointegration. However, it is an overstatement to say that the rational-expectations hypothesis is not empirically valid by tests of rationality. The comment shows that forecasters did not entirely understand the effects of oil price shocks on the economy since large oil price shocks have never occured before.

Analysis, Prices and rates, Forecasts and trends, Prices, Petroleum, Forecasting

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Accounting for the growth of MNC-based trade using a structural model of U.S. MNCs

Article Abstract:

The growth of American multi-national corporations and their Canadian affiliates, and their vital role regarding foreign trade are discussed. Logistics management influences the intra-firm trade, allowing firms to conduct better transfer of goods and decrease inventory-carrying costs.

United States, Foreign trade, Multinational Corporations, International trade, International business enterprises, United States foreign relations, Growth, Canadian foreign relations, Company growth

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